Pune, India -- (SBWire) -- 04/25/2018 --"Intelligent Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation by product (Gas Scavengers, Corrosion Control Packaging, Moisture Control Packaging, Subsector Packaging, QR Code, and others), Application (Food & Beverages, Pharmaceuticals, Automotive, Electronics, and others), and Region | Outlook to 2023".
The global market for Intelligent Packaging Market is expected to grow to attain a CAGR of around 9% till 2022.
Market Highlights
Intelligent packaging demand is expected to rise drastically by the end of forecast period. Increase in demand will be driven by rapid advances in new and emerging technology like mobile marketing codes, quick response and printed electronics on packaging. Time-temperature indicator (TTI) labels are gaining importance because of intensified presence of temperature-sensitive drugs, growing cost competitiveness and the emphasis on food safety during distribution. Efficient and cost-effective wrapping solutions are developed by players to sustain in the market. The global intelligent packaging market is expected to grow due to the increasing need for specialty covering with the objective of retaining nutritional value and freshness in the products at competitive prices. The global intelligent packaging industry is estimated to grow at a CAGR of approx. 9% by the end of the forecasted period.
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Key Players
The key players of global intelligent packaging market report include- Amcor Ltd., Landec Corp., Graham Packaging Company Inc., Ball Corp., VIP Packaging, Timestrip, PLC., Sealed Air Corp., SYSCO Corp., and Mitsubishi Gas Chemical Inc.
Industry News
November 2017: Stora Enso had joined forces with Microsoft to bring cloud-based intelligent packaging solutions to clients, globally.
16 Oct 2017: PepsiCo embraces active and intelligent packaging with an interactive session at AIPIA World Congress 2017.
Global Intelligent Packaging Market - Segments
Global Intelligent Packaging Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Product: Comprises – Gas Scavengers, Corrosion Control Packaging, Moisture Control Packaging, Susceptor Packaging, QR code, and others
Segmentation By Application: Comprises – Food & Beverages, Pharmaceuticals, Automotive, Electronics, and others
Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Global Intelligent Packaging Market - Regional Analysis
Global intelligent packaging market is projected to grow at a faster pace due to the increasing requirements of packaging from industries such as food & beverage, electronics, and healthcare. The solutions in these sector across the supply chain is driving the market globally for such packaging.
North America accounts for the largest share in the global intelligent packaging market. The region has witnessed increased investment in the R&D and product innovation as far as packaging is concerned.
APAC is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The region offers flourishing market for such technological advanced packaging solutions. The FDI in retail has further widened the scope of intelligent packaging and lures the foreign players to enter the market with new packaging solutions.
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Market Research Analysis:
Pharmaceutical industry is expected to be fastest growing segment in intelligent packaging. The market opportunities will be driven by increasing health care needs of the aging population, the increasing demand of temperature sensitive biotechnology drugs in the product mix. The product demand could be hampered due to the huge investments in R&D and the increased cost of raw materials. Various new players have entered the market because of shift from traditional to intelligent wrapping system. All this have pushed participants to develop efficient and cost-effective wrapping solutions.
The food & beverage sector is also experiencing a growth due to the increasing requirement of longer shelf life for packaged fresh foods and processed foods along with the increasing importance of packaging in food safety. Color indicating features, TTIs and smartphone-enabled barcodes are new ways of intelligent packaging, especially for beverages.
Concepts of intelligent packaging play an increasingly important role by offering innovative solutions for extending the shelf-life or maintain, improve or monitor food quality and safety. Increasing concern of food safety and the trafficking of counterfeit pharmaceuticals will increase the demand of intelligent packing products such as time-temperature indicator and other products. Stringent management regulations about safety standards and food packaging, reduction in tracking time and efficient product monitoring are other factors which are contributing to the growth of this market. However, increasing cost of raw materials may hamper the growth of this market.
Product Analysis
- Product matrix which gives a detailed comparison of the market for different recycled product types
Additional Information
- Regulatory Landscape
- Pricing Analysis
- Macroeconomic Indicators
Geographic Analysis
- Geographical analysis across 15 countries
Company Information
- Profiling of 10 key market players
- In-depth analysis including SWOT analysis, and strategy information of related to report title
- Competitive landscape including emerging trends adopted by major companies
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Intelligent Packaging Market 2018 Global Sales, Revenue, Price and Gross Margin Forecast to 2023
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